Need to Move, but Owe More than your Home is Worth?

Need to Move but Owe more than Your Wellington Florida Home is Worth

Need to Move, but Owe More than your Home is Worth?

If you are a homeowner who needs to move but owes more money than your home is worth you are not alone and we can help!

Over the years we have assisted countless homeowners who had to move, but they were unable to sell because their mortgage payoff and closing costs exceeded the value of their home. While some homeowners might have the funds to pay the outstanding balance so they can move forward with selling their home traditionally many homeowners do not.

So what options do homeowners have if they owe more money than their home is worth, but need to move?

Option 1:  Short Sale their Home

What is a short sale? A short sale is a type of real estate sale where the homeowner owes more money than their home will sell for in today’s real estate market, so they ask their lienholder(s) to accept less than what is owed so they can move forward with selling their home. My partner and I have been successfully closing short sales together for years and will be more than happy to educate you about the process so you can determine if this is the right decision for you.

Option 2: Rent their Home

Depending on your monthly out of pocket expenses; mortgage, taxes, homeowners insurance & maintenance fees, another possible option is renting your home. Not everyone wants to be a landlord, but sometimes this is the best option especially if the monthly rental income is going to exceed your out-of-pocket expenses and/or if property value in your area is increasing.

Every homeowner’s situation is different, which is why we will be more than happy to sit down with you and discuss the different options if you owe more than your home is worth, but need to move.

Need to Move, but Owe More than your Home is Worth?

Leave a Comment

Your email address will not be published. Required fields are marked *

ABOUT

Michelle Gibson Wellington Florida REALTORMichelle Gibson of the Hansen Real Estate Group Inc is a full-time REALTOR who has been specializing in Wellington Florida real estate since 2001. This veteran of the real estate industry has expertise in technology, marketing, and social media.

REAL ESTATE BROKERAGE SERVICES

Hansen Real Estate Group Inc. is a full-service real estate brokerage specializing in residential real estate. As a customer-focused, quality organization, we achieve success one client at a time. Call 561-333-0446 or e-mail me today at [email protected]

Michelle Gibson and Hansen Real Estate Group Inc fully support the principles of the Fair Housing Act and the Equal Opportunity Act. Accessibility Statement

RELOCATING

If you are thinking about buying, selling, or renting your home, townhome, condo, or other Real Estate in the following areas; Wellington, Lake Worth, Royal Palm Beach, Boynton Beach, Greenacres, Loxahatchee, Royal Palm Beach, Lake Clarke Shores, West Palm Beach, Palm Beach Gardens, or Jupiter there are thousands of Realtors to choose from.

However, it doesn't cost you any more to work with a top Realtor in Wellington Florida. I would welcome the opportunity to show you how I get outstanding real estate results for all of my clients. If you are looking for a top real estate agent in Palm Beach County Florida who will make a difference you have come to the right place.

Use this real estate website to learn more about moving to Wellington Florida, living in Wellington Florida view homes for sale, homes for rent along with real estate market reports for the most popular communities that Wellington Florida has to offer.

© 2021 · Wellington Florida Homes for Sale and Real Estate · All Rights Reserved by the WellingtonHomeTeam.com

Scroll to Top